Hsbc Holdings PLC Takes Position in Neurocrine Biosciences, Inc. $NBIX

Hsbc Holdings PLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 115,990 shares of the company’s stock, valued at approximately $19,578,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DJE Kapital AG acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at $28,000. Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Meeder Asset Management Inc. raised its position in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares during the period. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences during the first quarter valued at $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the transaction, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the sale, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,899,732. This represents a 34.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 114,375 shares of company stock valued at $18,994,756 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $155.92 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The stock’s fifty day moving average is $166.86 and its two-hundred day moving average is $149.40. The firm has a market capitalization of $15.85 billion, a P/E ratio of 22.86, a PEG ratio of 0.73 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, equities analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Truist Financial raised their price target on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.86.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.